UPD: The livestream is over. The video of the discussion is available via the same link. Stay tuned!

🎥 LIVE: at 3:00 p.m. Moscow Time, the Valdai Discussion Club is starting a special session titled “Self-sufficiency and cooperation: features of the modern political economy”, within the framework of the #SPIEF-2022.

https://valdaiclub.com/multimedia/video/self-sufficiency-and-cooperation-features-of-the-modern-political-economy/

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🌊 Oceans and Global Transformation: What Kind of Fleet Does Russia and the World Need?

Two years ago, the pandemic exposed the critical vulnerability of the world economy to disruption of maritime transport. Today, with the biggest economic war in history in the West and quarantine restrictions in the East, international maritime trade is under unprecedented pressure.

Restrictions on freedom of navigation, which accounts for up to 90 per cent of all the world's moving cargo, have multiplied costs, disrupted routes tried and tested for decades, and ramped up inflation everywhere.

The Russian merchant fleet is faced with widespread sanctions pressure caused by the desire to exclude the country from global logistics chains.

Under these circumstances, the task of building a new connectivity of countries and regions comes to the fore. This will require the reopening of inland waterways and the accelerated development of promising maritime routes and a new fleet to operate and service them.

📍The session "Oceans and Global Transformation: What Kind of Fleet Does Russia and the World Need?", moderated by Valdai Club Programme Director Ivan Timofeev, was held today, on June 16, as part of the St Petersburg Economic Forum.

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💎 Our infographic "Self-Sufficient Countries of the World" is devoted to today's special session of the Valdai Club “Self-sufficiency and cooperation: features of the modern political economy” within the framework of the #SPIEF2022.

The video of the discussion is available via this link.

#valdai_infographics #SPIEF

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🗺 Globalisation Is Set to Continue, but According to New Rules

On Thursday, June 16, a Valdai Club session, titled “Self-sufficiency and Cooperation: Features of Modern Political Economy”, was held as part of the business programme of the St. Petersburg International Economic Forum 2022.

The participants in the session, moderated by Fyodor Lukyanov, Research Director of the Valdai Club, discussed the restructuring of the global economic system, which has demonstrated the need for self-sufficiency and the inevitability of cooperation.

💬 Rasigan Maharajh, Director of the Institute for Economic Research on Innovation at the Tshwane University of Technology (South Africa), raised the topic of global inequality, which was recently highlighted by the coronavirus pandemic. He compared unequal access to vaccines to apartheid, pointing out that the price of a vaccine dose in Africa, the poorest continent, is the highest in the world.

💬 According to Jacques Sapir, director of research at the Paris School of Social Sciences (EHESS), the pandemic has put the final nail in the coffin of globalisation. The very idea of free trade has been called into question. Already today we see that the notion of global trade is actually crumbling under the sanctions. Therefore, self-sufficiency will become a priority for an increasing number of states.

💬 The subject of curtailing globalisation was also touched upon by Vladimir Chizhov, Ambassador Extraordinary and Plenipotentiary, Permanent Representative of the Russian Federation to the European Union. According to him, the world has recently faced a number of global challenges: “one may call it a ‘perfect storm’, while another uses other epithets, but this is definitely not the ‘end of history’.” Chizhov said that these challenges include the vaccine race that unfolded during the pandemic; the persistent drive of the European Union to abandon the system of long-term contracts for the supply of energy, which resulted in a price hike; food security; as well as the problem of IT giants, which neither the US nor the EU can cope with. The West’s response to this set of problems has been a search for a culprit, which Russia was declared to be, but this does not help solve the problems.

💬 If we are talking about globalisation according to Western rules, then it is really winding down, said Wang Wen, Executive Dean of the Chongyang Institute for Financial Studies (RDCY), Deputy Dean of the Silk Road School, Renmin University of China. The way the US influences global trends winds up pushing non-Western countries towards self-sufficiency. However, while striving for less dependence on the US, they must simultaneously think about cooperation and the advantages of the global market. Future globalisation will be more balanced and inclusive, Wang Wen said.

💬 According to Stanislav Georgievsky, Vice President of the Russian Export Center, the creation of a second and third security loop will be one of the motives for making decisions on trade blocs and joint investments in the face of a possible disconnection of non-Western countries from systems such as SWIFT.

💬 Sanctions are harmful, but inefficient, said Bijan Khajehpour, managing partner of Eurasian Nexus Partners (EUNEPA), an Iranian consulting company. They are inefficient in the sense that they affect society and the economy and cause real damage, but do not achieve their goals. Iran is a vivid example of the fact that it is impossible to change a country with sanctions.

https://valdaiclub.com/events/posts/articles/globalisation-is-set-to-continue-but-according-to-new-rules/

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🎥 Can self-sufficiency be considered as an isolation? Is it possible to isolate a single country in the context of globalization?

Rasigan Maharajh, Director of the Institute for Economic Research on Innovation at the Tshwane University of Technology (South Africa), who participated in the Valdai Club session at SPIEF-2022, answers these and other questions in an interview for valdaiclub.com.

#valdai_podcast #SPIEF2022

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🎥 Is autonomous development possible for Western and non-Western countries? What should the humanity do to effectively cope with emerging crises?

Rasigan Maharajh, Director of the Institute for Economic Research on Innovation at the Tshwane University of Technology (South Africa), who participated in the Valdai Club session at SPIEF 2022, shares his thoughts on these questions in an interview for valdaiclub.com.

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